Vietnamese central bank cuts rates, despite IMF credit warning
Decision contradicts IMF advice to keep monetary policy on hold to contain rapid credit growth
Vietnam’s central bank has decided to cut the official interest rate by 25 basis points to spur economic growth, despite concerns over rapid credit growth and International Monetary Fund advice to keep monetary policy on hold.
The move is designed to “contribute to managing inflation, stabilising the macroeconomy, and supporting business and economic growth”, the central bank says in a statement published on July 10.
The State Bank of Vietnam (SBV) reduced the annual refinancing rate to 6.25%
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